Rentokil Initial's share price fell 20% to a 52-week low after a profit warning due to disappointing North American sales.
Rentokil Initial's share price has fallen 20% to a 52-week low following a profit warning due to disappointing summer performance in North America, which comprises 60% of its sales. The company now anticipates £700 million in adjusted profit for 2024, down from £766 million. Factors include higher costs and integration challenges after acquiring Terminix. Despite these issues, some investors view the stock as undervalued, believing in its long-term potential.
September 11, 2024
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